DEPARTMENT OF LABOR

Employment and Training Administration

TA-W-95,164

STATE STREET BANK AND TRUST COMPANY
PRIVATE EQUITY OPERATIONS
A SUBSIDIARY OF STATE STREET CORPORATION
BOSTON, MASSACHUSETTS

Certification Regarding Eligibility
To Apply for Worker Adjustment Assistance

In accordance with Section 223 of the Trade Act of 1974, as
amended ("Act"), 19 U.S.C. § 2273, the Department of Labor
herein presents the results of an investigation regarding
certification of eligibility to apply for worker adjustment
assistance.
The group eligibility requirements for workers of a firm
under Section 222(a) of the Act, 19 U.S.C. § 2272(a), are
satisfied if the following criteria are met:
(1) a significant number or proportion of the
workers in such workers' firm have become totally or
partially separated, or are threatened to become
totally or partially separated;
(2)(B)(i)(I) there has been a shift by the workers'
firm to a foreign country in the production of
articles or supply of services like or directly
competitive with those produced/supplied by the
workers' firm; OR
(II) there has been an acquisition from a
foreign country by the workers' firm of
articles/services that are like or directly
competitive with those produced/supplied by
the workers' firm; AND
(ii) the shift/acquisition must have contributed
importantly to the workers' separation or
threat of separation.

The investigation was initiated in response to a petition
filed on September 10, 2019, by a state workforce office on
behalf of workers of State Street Bank and Trust Company,
Private Equity Operations, a subsidiary of State Street
Corporation, Boston, Massachusetts. The workers' firm is a
financial holding company engaged in activities related to the
supply of various financial products and services. The worker
group on whose behalf the petition was filed concerns workers
within Private Equity Operations which provides custody and
accounting operations services to the firm's Private Equity
clients.
During the course of the investigation, information was
collected from the petitioner and workers' firm.
Section 222(a)(1) has been met because a significant
number or proportion of the workers in such workers' firm have
become totally or partially separated, or are threatened to
become totally or partially separated.
Section 222(a)(2)(B) has been met because the workers'
firm has shifted to a foreign country the supply of a service
like or directly competitive with the service supplied by the
workers which contributed importantly to the worker group
separations at State Street Bank and Trust Company, Boston,
Massachusetts.
Conclusion
After careful review of the facts obtained in the
investigation, I determine that workers of State Street Bank and
Trust Company, Private Equity Operations, a subsidiary of
State Street Corporation, Boston, Massachusetts, who are
engaged in activities related to the supply of custody and
accounting operations services to the firm's Private Equity
clients, meet the worker group certification criteria under
Section 222(a) of the Act, 19 U.S.C. § 2272(a). In accordance
with Section 223 of the Act, 19 U.S.C. § 2273, I make the
following certification:
"All workers of State Street Bank and Trust Company,
Private Equity Operations, a subsidiary of State Street
Corporation, Boston, Massachusetts, who became totally or
partially separated from employment on or after September
9, 2018, through two years from the date of certification,
and all workers in the group threatened with total or
partial separation from employment on the date of
certification through two years from the date of
certification, are eligible to apply for adjustment
assistance under Chapter 2 of Title II of the Trade Act of
1974, as amended."
Signed in Washington, D.C. this 12th day of December 2019.

/s/Hope D. Kinglock
______________________________
HOPE D. KINGLOCK
Certifying Officer, Office of
Trade Adjustment Assistance